|
The nation's largest airline, Air China, is scheduled to officially make its debut on the Hong Kong and London bourses today Wednesday.
It is to raise up to US$1 billion from an initial public offering (IPO) on the two markets.
The carrier will officially declare its listing late today when the first-day transaction of the stock exchanges ends.
Air China will spend 4.8 billion yuan or 580 million US dollars from the IPO on the purchase of 10 A319 and four Boeing 737-700 planes.
The remaining capital will be used to pay for debt due this year and add additional cash flow for the company's operation.
Market value of the giant carrier will range from US$2.5 billion to US$3.3 billion after the IPO.
This is bigger than its Hong Kong-listed rivals China Eastern and China Southern.
(CRI December 15, 2004)
|
